Venmo identification is safe, as Paypal, the owner of Venmo, requests this identification to be in line with federal law. Note that you conduct the verification process and hand out your private information on the app, which further confirms that the request is legitimate and safe.
Continue reading because we’re about to tell you how to evaluate how legitimate an identity verification is.
If you’re here, you probably have questions about Venmo identity verification, and we’re here to deliver. Identity verification requests may be legit, but they might also be big scams targeting your hard-earned cash.
This is why we’ll help you determine the validity of the Venmo identity verification email you’ve received. So, keep reading to find out!
Is Venmo Identity Verification Safe?
As we’ve briefly mentioned, Venmo identity verification is generally safe. On its website, the company says, “Venmo has been notifying our users that we need to verify their identity in the Venmo app.” So, it’s legitimate; however, the trick is to confirm it’s Venmo that’s requesting your information, which is easy enough.
To illustrate, Venmo never asks you to enter your private information on any website. In other words, you should never give out your personal information in an email, text, website, or over the phone. And it doesn’t even allow you to verify your identity on its official website.
Instead, it only sends you an email to notify you that identity verification is needed. And that email asks you to verify your identity on the app itself. That’s because Venmo realizes that identity thieves use its name to scam people.
Nevertheless, you aren’t wrong to feel uneasy entering sensitive information, including your social security number, in the app. In fact, the SEO of the ID Theft Center, Eva Velasquez, states that data breaches can expose your sensitive information when a company or organization like Venmo stores it.
But that isn’t to say you shouldn’t go forward with the Venmo identity verification because a platform that doesn’t require them not only violates federal law but is also prone to identity crimes, which are probably more likely than a data breach.
And since we’re talking about one of the biggest online vendors, there’s little to no risk in Venmo identity verification.
Why Is Venmo Requesting an Identity Verification?
Venmo Requesting an Identity Verification since Venmo is a money transfer app, which is bound by federal law to do so. According to the USA Patriot Act, any payment processor app must collect information of its users having access to a balance and are making transactions to verify their identity.
This reduces the risk of identity crimes and fraud.
Also, conducting the process of identity verification allows you to use the money in your Venmo account. As for why there has been a rise in Venmo identification requests this year, Venmo hasn’t specified. However, the app has witnessed several changes lately, so that could be one of them.
What Happens if I Don’t Verify My Identity on Venmo?
Maybe you think it’d be easier to ignore the verification process than verify that it’s safe. So, here’s what that’ll mean for your account. If you choose not to verify your identity in the given period, you won’t be able to make payments on Venmo.
However, you’ll still be able to use the app, but money will be transferred from and to your credit card or bank account. In other words, your Venmo account’s access to funds will be disabled.
How Do I Verify My Identity on Venmo?
We’ve talked a bit about how safe Venmo’s verification system is on the app, but what does this safe process look like? To verify your identity, you should:
- Open the Venmo app using iPhone or Android.
- Select the three stacked bars on the top left corner of your screen.
- Choose “Settings” from the sidebar.
- Select “Identity Verification” under the “Security” section.
- Tap “Next” on the one-time security check information page to complete the security check.
- Enter your legal first name and last name, date of birth, address information, and the last 4 digits of your social security number. If you don’t have one, choose “I don’t have an SSN.”
- Select “Next” to complete any on-screen prompts.
As a New Venmo User, Do I Have to Carry Out the Identity Verification?
Yes, identity verification is sent out to all Venmo users. Of course, you won’t be forced to conduct it, but you’ll need to verify your identity to gain access to your Venmo balance. This way, you can use it to make transactions.
Tips for a Safe Venmo Experience
Identity Verification may protect you against identity crimes, but it’s far from enough for a safe Venmo experience. So, here’s what you should do:
- Enable the Security Features: Enabling screen lock/biometric lock and “Lock and Find my Phone” makes it difficult for hackers to steal your credentials and balance.
- Avoid Unsolicited Emails and Messages: If you get one asking you to send money directly from Venmo, ignore it. And don’t click on any attachments or links in these emails and messages.
- Look For Suspicious Activity: If your account features payments that you haven’t made, report them to Venmo immediately, and change your passwords.
All in all, though identity verification may be unsafe with unknown vendors, Venmo is one of the biggest vendors. Accordingly, it’d be wise to trust that Venmo will protect your private information against data breaches.
Nonetheless, you need to ensure that you’re giving your information to Venmo rather than a hacker pretending to be Venmo.
This is very easy because Venmo only allows identity verification on the actual app. So, don’t enter your private information in any website, message, email, or so.
Accordingly, if you’ve received Venmo’s identity verification request email, head on to the app to verify your identity. This way, your account will be safe against identity crimes.